Comparing Life Insurance Options

This week’s Cavalcade of Risk included an informative article at the Consumer Boomer blog about how to compare different types of life insurance policies.  The article did a good job of detailing the major differences between term life insurance and permanent life insurance (both universal and whole) but not much was said about the cost differences, other than to note that the permanent policies are “more expensive”.  Permanent life insurance is dramatically more expensive than term coverage – often ten or twenty times as much in annual premiums.  For some people, the benefit is worth it.  But for most of us, it makes sense to buy a term policy and keep our investments separate from our life insurance.  But either way, the Consumer Boomer article provides a good summary of how the various types of coverage work.  If you’re in Colorado and you’d like to get quotes for your particular life insurance needs, we’re be happy to help.

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